The Aircraft Owners and Operators Association of Pakistan (AOOA) on Tuesday rejected the doubling of security deposit and other charges under the Aviation Policy 2023 saying the move would prove catastrophic for the already struggling aviation industry. The association in a press statement said the sharp increase in security deposits, which are Rs10 million now, would discourage fresh investmen
The power division has notified a freeze on monetised cost of free electricity units to all the senior employees of power companies and the Water and Power Development Authority (Wapda) at the existing level for future. In a notification issued here on Tuesday, the power division said the federal cabinet had approved monetisation of free electricity units admissible to the employees of Wapda
The National Electric Power Regulatory Authority (Nepra) on Tuesday notified an additional fuel cost adjustment (FCA) of Rs3.08 per unit for consumers of ex-Wapda distribution companies (Discos) with a net financial impact of about Rs28.5 billion for electricity consumed in October. According to Nepra’s notification, the adjustment will apply to all the consumer categories except Electric Vehic
The benchmark of representative shares on the Pakistan Stock Exchange hit a new peak by crossing the psychological barrier of 62,000 points on Monday. Topline Securities Ltd attributed the bull run to the investors’ “fear of missing out” as buying took place across the board. Any correction is witnessed sector-wise instead of across the board, it said, adding that dips are usually observed o
Gold hit a record high on Monday as growing optimism that the Federal Reserve will cut US interest rates in the new year has dented the dollar in recent weeks. The precious metal, seen as a safe haven investment, reached an all-time pinnacle at $2,135.39 an ounce. Profit-taking later set in, leaving it to trade at $2,043.80. Elsewhere, bitcoin briefly traded above $42,000 to reach a 20-month